Press release - Paris, January 3rd, 2025
Conversion of class G preferred shares ("ADP G") into ordinary shares
Between 2016 and 2017, SMCP granted, on an exceptional basis, 1,293,098 class G preferred shares ("ADP G") with a nominal value of €1.10 to 98 senior executives and managers of SMCP (including Mses. Evelyne Chétrite and Judith Milgrom and Mr. Ilan Chétrite, founders and Deputy General Managers (Directeurs Généraux Délégués) of SMCP). These ADP G were convertible by their beneficiaries into 5,072,873 ordinary shares on January 1st of each year from January 1st, 2019 and until January 1st, 2025, at which date the non-converted ADP G would be automatically converted into ordinary shares.
Between 2019 and 2024, 595,755 ADP G were converted into ordinary shares and 2,337,162 new ordinary shares were consequently issued. On January 1st, 2025, the outstanding 697,343 ADP G were automatically converted into 2,735,711 ordinary shares (of which 624,121 ordinary shares for Ms. Evelyne Chétrite, 624,121 ordinary shares for Ms. Judith Milgrom and 624,297 ordinary shares for Mr. Ilan Chétrite).
The share capital of the Company, who comprised on December 31st, 2024 76,288,530 shares (including the 697,343 ADP G) is now composed, after the share capital increase that took place following this automatic conversion, of 78,326,898 ordinary shares1.
It is anticipated that the holders of ordinary shares resulting from the conversion of ADP G will sell these ordinary shares before December 31st, 2025, as a consequence of the applicable tax regime. Ms. Evelyne Chétrite, Ms. Judith Milgrom and Mr. Ilan Chétrite, Deputy General Managers of SMCP, intend in this context to entrust to an investment services provider, acting independently, a "mandat de gestion programmée" in order to sell on the market or over-the-counter their ordinary shares resulting from the conversion of their ADP G as from a month after signing this mandate (i.e. 624,121 ordinary shares for Ms. Evelyne Chétrite, 624,121 ordinary shares for Ms. Judith Milgrom and 624,297 ordinary shares for Mr. Ilan Chétrite).
Following the conversion of the ADP G into ordinary shares, the founders and the managers of SMCP hold 10.3% of the share capital and 14.7% of the voting rights of the Company."
ABOUT SMCP
SMCP is a global leader in the accessible luxury market with four unique Parisian brands: Sandro. Maje. Claudie Pierlot and Fursac. Present in 48 countries. the Group comprises a network of over 1.600 stores globally and a strong digital presence in all its key markets. Evelyne Chétrite and Judith Milgrom founded Sandro and Maje in Paris. in 1984 and 1998 respectively. and continue to provide creative direction for the brands. Claudie Pierlot and Fursac were respectively acquired by SMCP in 2009 and 2019. SMCP is listed on the Euronext Paris regulated market (compartment A. ISIN Code FR0013214145. ticker: SMCP).
CONTACTS
| INVESTORS/PRESS | |
| SMCP | BRUNSWICK |
| Amélie Dernis | Hugues Boëton +33 6 79 99 27 15 |
| +33 (0) 1 55 80 51 00 | Tristan Roquet Montegon +33 6 37 00 52 57 |
| amelie.dernis@smcp.com | smcp@brunswickgroup.com |
1 The updated information on the attached voting rights will be published on the Company's website on January 6, 2025.
